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UBS is under investigation by US authorities regarding Russian clients inherited from its acquisition of Credit Suisse. The Office of Foreign Assets Control (OFAC) is scrutinizing these accounts, prompting UBS to segregate suspicious funds and close certain accounts to mitigate potential repercussions. While UBS is cooperating, the extent of problematic Russian funds remains unclear, as the bank sheds unwanted clients linked to Russia.
Affinity Equity Partners has secured a A$515 million ($336 million) leveraged loan from ING Bank to finance its acquisition of Lumus Imaging from Healius Ltd. This deal marks a significant boost to buyout financing activity in Australia, with ING seeking additional commitments from other financiers.
The report provides a comprehensive analysis of the global VR/AR Technology for Healthcare market, detailing market size, growth potential, and segment analysis by type and application across various regions. It examines key market drivers, challenges, and opportunities, alongside competitive insights and emerging trends, offering a roadmap for stakeholders in the industry.
Elisabeth Baume-Schneider has left the social network X, citing a shift in the platform's culture that no longer aligns with her values. Meanwhile, the National Council's Finance Committee will present budget options amid cuts, and the Jura government will unveil its prison strategy addressing overcrowding issues. In international news, US Secretary of State Antony Blinken is set to meet NATO and EU officials to discuss support for Ukraine, while German Chancellor Olaf Scholz prepares to address the Bundestag following his coalition's collapse.
Aristocrat Leisure anticipates continued profit growth, driven by its Pixel United and Aristocrat Interactive gaming businesses, leading to a 2% rise in share price. Recent strategic decisions, including the $620 million sale of its Platinum business, have strengthened its market position. Despite a high P/E ratio of around 24, the company remains a compelling option for investors, particularly during market corrections.
The Nasdaq has retreated slightly as traders await the consumer price index (CPI) report, which could influence interest rates and equities. Meanwhile, the ASX 200 struggles with commodity concerns stemming from weak signals from China and a stronger US dollar, trading sideways between 8360 and 8380. The Australian dollar is under pressure, potentially dropping to 0.64, while gold prices have hit a two-month low due to rising US yields.
Following Donald Trump's election victory, US stocks surged, with the S&P 500 closing above 6000 points and banking stocks seeing significant gains. Trump's protectionist policies are expected to benefit small businesses and the cryptocurrency sector, with bitcoin reaching over $87,000. However, concerns over renewed US-China trade tensions arise as Trump threatens tariffs, prompting mixed expert opinions on the potential for a trade war.
Australia's wage growth slowed to an annual 3.5% in the third quarter, down from 4.1% previously and below economists' expectations of 3.6%. Quarterly growth was recorded at 0.8%, indicating easing price pressures and reinforcing speculation of a potential interest rate cut.
Australia’s regulator has initiated civil penalty proceedings against Cbus Super, one of the largest pension funds, for significant delays in processing death benefits and insurance claims. Allegations state that the fund took over 12 months to process some claims, affecting more than 10,000 individuals and resulting in an estimated A$20 million in financial losses. The Australian Securities and Investments Commission claims Cbus failed to act efficiently, honestly, and fairly during this period.
Meta has received a Shonky award for failing to protect Australians from scams, with losses reaching $95 million in 2023. Queensland retiree Gary lost $110,000 to an investment scam featuring images of prominent figures, highlighting the platform's inadequate response to reported fraudulent ads. The government is now enforcing legislation that could impose fines of up to $50 million on social media companies that do not take sufficient measures against scams.
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us investigates ubS over russian client accounts following cs acquisition
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20:52 12.11.2024
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